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Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is bound to keep the market a bit on the lull side. Still, the industry’s benchmark, the BDI (Baltic Dry Index) was up by 9 points on Monday to 1,013 points, further establishing its position above the “psychological” mark of the 1,000 points. The biggest leader of the new rise was the Capesize market, with the Capesize Index up by 14 points, to 1,204. Small gains were also evident in both the Panamax and the Supramax segments, with the Handysize market remaining stable versus the Friday’s closing.
In a report last week, DVB Bank mentioned that the BDI’s average during 2011 was 1,529 points, which in turn was 44% below the 2010 average of 2,758 points. So far in 2012, the average is below 950 points and is indicative of the dire position that the market has found itself, as oversupply has “drowned” freight rates. DVB sees a sustained downward trend, stating that even delays caused by port delays and congestions and an increase in demand for dry bulk commodities, haven’t been enough to help absorb the new tonnage which is entering the market at a frenetic pace.
It’s worth noting that so far this year a total of of 529 vessels, representing 44.4 million dwt have already been delivered. Another 1,148 vessels of 93.5 million dwt are scheduled for delivery until the end of 2012. This is about 58% of the current orderbook, which stands at 2,001 vessels of 161.3 million dwt, which in turns represents about 25.8% of the current fleet. As a result, asset values as well as earnings are not expected to recover anytime soon. DVB stated that "we may see the markets bottom by the end of 2013 and remain flat thereafter. However, this is subject to owners not indulging in more newbuilding contracting if they see a seasonal spike in freight rates".
According to the research report, the fleet of dry bulk carriers now stands at 9,251 vessels with a total carrying capacity of 625.5 million dwt. The average age of the fleet is about 11 years and 61.8% of the fleet is less than 10 years of age. In addition, the average age of vessels less than 10 years of age is merely 3.1 years – an extremely young fleet. In dwt terms, Large Capes constitute the largest portion of current fleet while Panamax size vessels have the largest orderbook. The ULBC size range (280K+ dwt) is expanding rapidly and mainly consists of the 400k+ Vale vessels. Thus far, 11 of these behemoths have delivered. In its report, DVB mentioned that "these massive 400K+ dwt vessels will have a negative impact on asset values as well as freight rates not only for this Sub-Sector but for all smaller Sub-Sectors (VLBC, Large Capes and Small Capes) as well. Each of these Valemax vessels can replace about 2.3 three Large Capes from the market, all other things being equal" it mentioned.
In a separate note, Commodore Research & Consultancy noted that the latest Tropical Storm Doksuri, was expected to make landfall near Hong Kong and should bring even more torrential rainfall in southern China. “Southern China (which is where the majority of China's hydropower is produced) has recently received a very large amount of rain. Last week, the vast majority of southern China received at least 85 millimeters of rain, with some areas receiving as much as of 150mm. This was an extremely large amount. In comparison, all of China received an average rainfall of 68.5mm of rain in May. Chinese hydropower production is poised to continue to rise, which will put added pressure on Chinese thermal coal demand. Chinese demand for imported thermal coal cargoes has remained low and is poised to stay low for the next several weeks. Chinese hydropower production totaled 66.5 billion kilowatt hours in May, which was 22.7 billion kwh (52%) more than produced in April and 15.1 billion kwh (29%) more than produced in May 2011. For June, we expect hydropower production will end up totaling between 70 to 80 billion kwh. In July, hydropower production stands a good chance of setting a new record. The current record is 82.7 billion kwh produced in July 2010.
Going forward, Chinese thermal coal demand is poised to stay low in the near term due to the ongoing surge in Chinese hydropower production (and also due to the robust amount of coal that remains stocked at Chinese ports and power plants)” concluded Commodore Research & Consultancy.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
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